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Indian IT Contributes $15 Billion in US Tax

The Indian IT industry in the US has contributed $15 billion in taxes in the past five years, according to Foreign Secretary Ranjan Mathai.

NASSCOM estimates that Indian IT firms employ over 100,000 people in the US, up from 20,000 six years ago. Mathai said it supports 200,000 other U.S. jobs, including indirect ones. “Most Indian companies are setting up development centres. Indian IT industry contributed $15 billion in taxes over the last five years. This success story should not be set back by stringent visa regulations which act as a non-tariff barrier,” Mathai said.

“According to a back of envelope calculation, Indians paid over $200 million in visa fees. Perhaps $30-50 million has been taken from young aspiring Indians working in businesses whose US visas were rejected. The pink slip has become a greenback!” Mathai said.